Filtronic Reports Profit Decline Despite Record Order Book and Key Contracts
Filtronic, a British satellite firm, reported a profit decline for the six months ending November 30, 2025, with revenue falling to £25.3 million and adjusted EBITDA decreasing to £5.1 million, attributed to investments in personnel and product development. Despite these challenges, the company holds a record order book, including a significant £47.3 million contract with SpaceX and additional deals with European clients, covering approximately 90% of current year revenues. Filtronic remains optimistic about meeting market expectations as cash generation improved during the period.
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Filtronic, a British satellite firm, reported a profit decline for the six months ending 30 November 2025, despite holding a record order book. Revenue was £25.3 million, slightly down from £25.6 million the previous year.
Adjusted EBITDA decreased to £5.1 million from £8.7 million, and operating profit fell to £2.6 million from £6.8 million, impacted by investments in personnel, facilities, and product development. Cash generation improved with operating cash flow rising to £3.4 million from £2.1 million.
Notably, Filtronic secured a £47.3 million contract with SpaceX in August 2025 for its gallium nitride E-band technology, and additional contracts with a European space customer and a £13.4 million deal with a European defense firm. Approximately 90% of current year revenues are covered by contracted orders, and the company remains confident in meeting market expectations.
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